Stocks Moving on Upgrades Today

Wayfair stock is soaring after several bull notes

Deputy Editor
Jan 23, 2023 at 11:08 AM
facebook twitter linkedin

The broader market is on the rise today, and a few stocks in particular are seeing tailwinds after bull notes. 

Barclays sees potential upside for Advanced Micro Devices Inc (NASDAQ:AMD), and upgraded the stock to "overweight" from "equal weight," with a price-target hike to $85 from $70. The firm upgraded several chip stocks, claiming the U.S. semiconductor sector just had its worst correction since the tech bubble of the late 1990's. Truist Securities threw in a bull note as well, raising its price target to $79 from $70. At last glance, Advanced Micro Devices stock was up 7.7% to trade at $75.48, and is currently up 15.9% year-to-date.

Shopify Inc (NYSE:SHOP) stock is up 6% at $42.92 at last check, after Deutsche Bank upgraded the SHOP to "buy" from "hold" and hiked its price target to $50 from $40. The firm sees more than 20% upside for the stock as more brands move to the platform. The equity is fresh off its fourth-straight week of gains, and is already up 23.8% since the start of 2023. Options bulls have been targeting the stock with a fervor amid the positive price action. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), SHOP's 10-day call/put volume ratio of 3.39 and its 50-day call/put volume ratio of 2.48 both rank in the 98th percentile of its annual range. 

Wayfair Inc (NYSE:W) stock is soaring to its highest level since August, up 24.3% at $58.17 at last look, after several bull notes. J.P. Morgan securities double-upgraded the shares to "overweight" from "underweight," with a price-target hike to $63 from $35, saying its time to buy the stock on the dip. Plus, Wedbush upgraded W to "outperform," and BofA Global Research hiked its rating to "buy." No fewer than four other analysts raised their price targets as well. 


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners